GWM’s Credo Fund provided a €58.4mln senior loan to refinance a construction loan of a new 3- star plus Hampton by Hilton hotel in central Dublin, Ireland.
Opened in July this year, the 249-room hotel was developed by JMK Group that currently manages seven hotels in the UK and Ireland and with other projects in the pipeline.
The Hampton by Hilton Dublin City Centre is located across the street from the historic Four Courts building and a 10 minute walk from key attractions such as Dublin Castle and Temple Bar, with multiple bus stops and a tram stop in the vicinities.
The bright and comfortable rooms include in-room sofa and a dedicated work area with a desk and multiple connection options.
The hotel also features a casual dining lounge with a limited all-day menu, a residence 24-hour bar on the ground level and a self-contained gym on the basement level.
Gennaro Giordano, managing partner at GWM, said: ‘This new addition is a key milestone for the Credo Fund as it represents the first investment in Ireland. We are glad to have been able to support JMK Group. We strongly believe in their capacity to become one of the staples of Dublin, a market still lacking good hotel quality products. In an environment where traditional lenders struggle to underwrite risks, the team remains focused in providing creative financing solutions to experienced sponsors and assets with strong fundamentals across Europe.’
Zain Kajani, director of JMK Group, added: ‘We are excited to have completed this refinance with GWM for the Hampton by Hilton in Dublin city centre. We appreciate their support in us and our asset. The hotel is the first Hampton by Hilton branded hotel in Dublin. It has achieved strong ESG credentials of ‘Excellent’ BREEAM and along with the strong management team, we look forward to driving this hotel to be one of best in Ireland’
Alston & Bird (UK) and A&L Goodbody (Ireland) acted as legal advisor to GWM, while Mason Hayes & Curran acted for JMK on the transaction which was arranged by Brotherton.
